• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Men’s & Fathers’ Rights Divorce Lawyers by Schultz & Associates, LLC

Divorce & Family Law of New Jersey

Call Attorney Carrie SchultzCall Us Today
(201) 880-9770
  • Home
  • Firm Overview
    • Pit Bull Advocacy
    • Resources
      • Divorce & Family Law FAQs
  • Attorneys
    • CARRIE S. SCHULTZ, ESQ.
    • JOSH A. FREEMAN, ESQ.
    • Andrew Economos, Esq. (Of Counsel)
    • Andrew “Drew” Fischer, Esq. (Of Counsel)
  • Practice Areas
    • Facing Divorce or Another Complex Family Law Problem?
    • Post-Divorce
      • Postnuptial Agreement
      • Post Divorce Enforcement or Modification
      • Enforcement Of Court Orders
      • Mediation
    • Divorce
      • Contested and Uncontested Divorce
      • Divorce Dissolution Attorney
      • Legal Separation
      • Mediation
      • Tax Issues of Divorce
      • Franklin Lakes
      • Fort Lee
      • Glen Rock
      • Livingston
      • Paramus
      • Passaic
      • Ridgewood
      • Saddle River
      • Tenafly
      • Upper Saddle River
    • High Net Worth Divorce
      • Maintaining Your Lifestyle
      • Business Owners in Divorce
      • Prenups and Mid-Marriage Agreements
    • DIVISION OF PROPERTY
      • Equitable Distribution
    • Child Custody
      • VISITATION & PARENTING TIME
      • NON-MARRIED COUPLES
      • Child Abduction
      • Parent Relocation
    • CHILD SUPPORT
      • Paternity
      • NON-MARRIED COUPLES
    • Alimony
      • Alimony Calculator
      • Long-Term Alimony
    • Domestic Violence
      • Restraining Orders
  • Videos
  • Blog
  • Our Reviews
  • Careers
  • Contact
Call
Contact
Blog
  • Home
  • Firm Overview
    • Pit Bull Advocacy
    • Resources
  • Attorneys
    • CARRIE S. SCHULTZ, ESQ.
    • Josh A. Freeman, Esq.
    • Andrew “Drew” Fischer, Esq. (OF COUNSEL)
  • Practice Areas
    • Facing Divorce or Another Complex Family Law Problem?
      • Divorce & Family Law FAQs
    • Post-Divorce
      • Postnuptial Agreement
      • Post Divorce Enforcement or Modification
      • Enforcement Of Court Orders
      • Mediation
    • Divorce
      • Legal Separation
      • Contested and Uncontested Divorce
      • Mediation
      • Tax Issues of Divorce
    • High Net Worth Divorce
      • Maintaining Your Lifestyle
      • Business Owners in Divorce
      • Prenups and Mid-Marriage Agreements
    • Division of Property
      • EQUITABLE DISTRIBUTION
    • Child Custody
      • Visitation and Parenting Time
      • Non-married Couples
      • Child Abduction
      • Parent Relocation
    • Child Support
      • Paternity
      • Non-married Couples
    • Alimony
      • Long-Term Alimony
    • Domestic Violence
      • Restraining Orders
  • Videos
  • Blog
  • Reviews
  • Careers
  • Contact

October 3, 2018 By Carrie S. Schultz, Esq.

Will You Be able to Maintain Your Lifestyle After Your Divorce?

Whether you were the primary wage earner in your relationship, you relied on your spouse’s income to live comfortably, or you and your spouse shared responsibility for funding the lifestyle to which you have become accustomed, getting divorced will have an impact on your finances. But, how much of an impact depends on a number of different factors, and there are a number of steps you can take to ensure that you will be able to maintain your lifestyle after your divorce.

When it comes to maintaining your financial lifestyle, the primary factors at play in the divorce process are: (i) the distribution of your shared assets, and (ii) the calculation of alimony. If you have children, child support and other child-related expenses (such as extracurricular activities and college tuition) will be relevant as well, although likely to a lesser extent than the two issues noted above.

Protecting Your Assets During Your Divorce

First, let’s talk about protecting your assets. Under New Jersey law, the general rule is that each spouse is entitled to an “equitable” share of a couple’s marital property. Factors to be considered in determining what is equitable include:

  • Each spouse’s financial and non-financial contributions during the marriage;
  • Each spouse’s financial circumstances t the time of their divorce;
  • The debts to be assumed by each spouse as a result of the divorce;
  • The standard of living enjoyed during the marriage; and,
  • The tax implications of a proposed distribution or liquidation.

But, even once you determine your equitable share, this only gets you so far. Then, the question becomes: Which specific assets should comprise your equitable share? The answer to this question is largely up to you (and your negotiations with your spouse); and, when deciding which assets to prioritize in your negotiations, maintaining your lifestyle is certainly something you will want to keep in mind. The more thought and effort you put into your marital property distribution, the better the outcome of the process is likely to be, and the more comfortable you will be as you transition into your post-divorce life.

So, what assets are most important to you when it comes to maintaining your lifestyle? Many divorcing spouses will choose to prioritize assets such as:

  • The family home
  • A beach house or vacation property
  • One or more cars, boats, or other vehicles
  • Retirement and non-retirement investment accounts
  • Airline miles and other benefits

When it comes to protecting your assets in a divorce, it is also important to remember the distinction between separate and marital property. While marital property is subject to equitable distribution, any assets that qualify as your separate property are yours to keep regardless of any equitable considerations.

Protecting Your Income During Your Divorce

Now, let’s talk about alimony. Whether you are expecting to pay or receive alimony, the calculation of support owed could have a substantial impact on your post-divorce income. Additionally, the tax laws regarding alimony are changing for divorces finalized after December 31, 2018, and these changes are likely to have a major influence on both spouses’ approaches to alimony negotiations.

While New Jersey law requires consideration of a number of factors – including standard of living – when calculating alimony, there are no specific guidelines for spousal support, and taking a strategic and proactive approach can go great lengths toward ensuring your long-term financial stability.

Speak with an Experienced Divorce Lawyer in Hackensack, NJ

Do you have questions about what you can do to maintain your lifestyle after getting divorced in New Jersey? If so, we encourage you to contact us for an initial consultation. To speak with one of our experienced divorce lawyers in confidence, please call (201) 430-7845 or request an appointment online today.

Attorney Carrie S. Schultz

Carrie S. Schultz, Esq. – author

Thank you for visiting our site. We realize that if you are reading this, you or someone you know is having marital or family difficulties. We truly understand how unsettling that can be for all involved. I personally want to invite you to explore the website which contains a lot of informational and educational items which I hope is of benefit to you. I also welcome you to contact us to schedule a consultation to discuss your matter in greater detail. Our firm philosophy is to always remain committed to providing our clients with the best service, care, guidance, communication, and legal advice possible for your particular situation. We take seriously you entrusting us with your legal matter. Happy researching! Attorney Bio

CLICK HERE TO SEE THE FREE VIDEO “THE TOP 3 THINGS TO CONSIDER BEFORE A DIVORCE”

Primary Sidebar

Table of Contents

  • TABLE OF CONTENTS 1
  • TABLE OF CONTENTS 2
  • TABLE OF CONTENTS 3
  • TABLE OF CONTENTS 4
  • TABLE OF CONTENTS 5
  • We Are Here to Help
    Contact Us Today

    We Also Offer
    Telephone & Video Initial Consultations!
  • Please Note: Our practice focuses on cases that occur in New Jersey.

Practice Areas

  • Divorce
  • Division Of Property
  • Child Support
  • Domestic Violence
  • Alimony
  • Child Custody
  • High Net Worth Divorce
  • Post-Divorce Modifications

Featured Divorce Videos

  • How Long Will a Divorce Take?
  • What is an Uncontested Divorce?
  • What is a No Fault Divorce?
  • Keeping the Costs of Your Divorce Low

Watch Our Educational Videos

Recent Posts

  • What If Your Spouse Is Hiding Assets in Your Divorce?
  • Stages of Divorcing a Narcissist
  • What can I expect in My Divorce if my Spouse has a Personality Disorder?
  • Can Alimony Payments Change?
  • How to File an Emergency Custody Order in New Jersey

Categories

  • Alimony
  • Business Valuation
  • Child Custody
  • Child Custody
  • Child Support
  • Division of Property
  • Divorce
  • Divorce
  • Domestic Violence
  • Family Law
  • High Net Worth Divorce
  • New Jersey Family Law Blog
  • News
  • Parenting
  • Uncategorized

Footer

Contact Us

Men’s & Fathers’ Rights Divorce Lawyers by Schultz & Associates, LLC

55 Hudson Street
Hackensack, NJ  07601

(201) 880-9770

(201) 880-9771

Hours: Monday to Friday: 9:00 AM – 5:30 PM

Men’s & Fathers’ Rights Divorce Lawyers by Schultz & Associates, LLC of New Jersey by Schultz & Associates, LLC map

THIS IS AN ADVERTISEMENT

These materials have been prepared by Men’s & Fathers’ Rights Divorce Lawyers by Schultz & Associates, LLC for general informational purposes only and are not intended and should not be construed as legal advice or legal opinion on any specific facts or circumstances. 

No aspect of this advertisement has been approved by the Supreme Court of New Jersey. You should consult an attorney for advice regarding your individual situation. Every case is unique. 

The information contained in this website is not intended to create, and receipt of it does not constitute, a lawyer-client relationship nor is it intended to substitute for the advice of an attorney. This website constitutes Attorney Advertising.

  • Facebook
  • Twitter
  • LinkedIN
  • Youtube
  • Facebook
  • Twitter
  • LinkedIN
  • Youtube

2022 © Men’s & Fathers’ Rights Divorce Lawyers by Schultz & Associates, LLC   |   All Rights Reserved | Privacy Policy | Sitemap

7 Tips to Easing Your Anxiety About a Possible Divorce

 
We respect your privacy